MC ATC AVC MR D 4 8. 10 12 Quantily (units per day) The figure above represents a monopoly. This monopolist earns an economic profit of $ per day. 8.00 24.00 32.00 16.00 4. 으 Price and costs (dollars per unit

MC ATC AVC MR D 4 8. 10 12 Quantily (units per day) The figure above represents a monopoly. This monopolist earns an economic profit of $ per day. 8.00 24.00 32.00 16.00 4. 으 Price and costs (dollars per unit

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

MC
ATC
AVC
8.
MR
4
10
12
Quantity (units per day)
The figure above represents a monopoly. This monopolist earns an economic profit
of $ per day.
8.00
24.00
32.00
O 16.00
Price and costs (dollars per unit)
2.

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i. If government regulates efficient pricing, are profits positive, negative or zero?ii. Is this a natural monopoly?
Due to barriers to entry, no firms can enter this industry: a b с Quantity 10 20 30 40 50 60 70 80 d Price $23 $20 $18 $16 $14 $12 $10 $8 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. True, if this is a monopoly True, if this is perfect competition Total Revenue None of the above $230 $400 $540 $640 $700 $720 $700 $640 True, if this is monopolistic competition Marginal Revenue $17 $14 $10 $6 $2 -$2 -$6 Total cost $340 $400 $480 $580 $700 $840 $1,020 $1,280 Marginal Cost $6 $8 $10 $12 $14 $18 $26 Average Cost $34 $20 $16 $14.50 $14 $14 $14.57 $16
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TPrice 30 MC 23 20 15 ATC D 9 12 Qiucantiry \MR b) Determine the deadweight loss for this market. Why does a deadweight loss arise in a monopoly?
120 110 100 90 80 70 $ per unit 60 50 % 40 ATC MC 30 20 10 0 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 Quantity D MR Consider the cost curves of a natural monopoly along with its demand and marginal revenue curves shown in the graph above. What aspect of the graph results in us denoting this as a "natural" monopoly? Marginal cost is upward sloping Marginal cost intersect average total cost at the minimum average total cost Demand intersects the downward sloping portion of average total cost Monopolist makes a profit when marginal revenue is equal to marginal cost
Asap please .. i vll give positive feedback and definitely upvote as well .... Asap plz
2. As a monopolist, what quantity does DeBeers produce? What price do they charge? An ATC curve has been provided for DeBeers. These costs include marketing, mining exploration, and more.
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Long Ron Marginal Cou Long-Run Average Total Cost Love Star College-North Hants Iretructor Dr. rahim Abou Saad Demand Curve 02 Outpat (Q) Marginal Revenue Referring to the figure above for a profit-maximizing monopolist, which of the following output sizes represents the most productively efficient output that the monopoly regulators can enforce against this monopolist? (Hint: production efficiency increases when producing at a lower average cost) O Q1 Q2 Q3 Q4 Q5 Q6